Get yourselve NERO Burning CD ROM (
www.nero.com). With this package you also get a good Software you can use to do recordings with, Nero Wave Editor. You just need to start the recording while your online radio is running. While recording the data gets saved to your temporary directory, so remember you have enough discspace left there (1 minute recordings takes up about 1 MB). After the recording has finished you can use "save as" in order to save your file in a compressed format, like mp3. You can also use wave editor to break up your recording into smaller parts by using cut & Paste.